On July 16, 2020, employees load packages into delivery trucks at a JD.com distribution center in Beijing.
GREG BAKER | AFP | Getty Images
BEIJING – In less than a year, Chinese e-commerce giant JD.com raised more than $ 10 billion through public offerings in Hong Kong and New York.
The listings related to JD’s subsidiaries and its own secondary stock offering in Hong Kong. Bank of America was the only investment bank to participate in every single listing, according to public filings.
Here are the four JD subsidiaries that went public since June 2020:
1. JD Logistics, the company’s delivery unit, went public in Hong Kong on Friday and raised approximately $ 3.2 billion. The logistics company’s large warehouse network and more than 200,000 delivery agents have given parent company JD.com an advantage over Alibaba in e-commerce.
The stock closed 3.3% higher on the first day of trading after rising more than 18% at one point.
Read more about China from CNBC Pro
4. The food supplier Dada Nexus, in which the strategic investor JD acquired a majority stake this year, raised USD 320 million as part of its public offering on the Nasdaq on June 5, 2020. The stock has risen around 59% since going public.
The four stock offerings raised a total of $ 12.02 billion.
The four stocks, excluding the New York parent company, now have a market capitalization of around $ 198 billion, according to Wind Information. Numbers can vary slightly due to factors such as exchange rates and how bank charges are calculated.